Cairn negotiating terms with govt for discovered gas

25 July 2013 04:38 am Views - {{hitsCtrl.values.hits}} 10 Bookmark

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Cairn Sri Lanka, the Sri Lankan exploration subsidiary of Cairn India, said it is currently engaged in discussions with the Sri Lankan government regarding the commercial terms and pricing of the gas discovered in the block awarded to them.

Cairn made two gas discoveries in its block in the Mannar Basin out of the four wells drilled under phase 1 and 2.

According to Cairn, the company is currently considering appraisal options for the gas discoveries made and for continuing into exploration phase 3.

“Monetization of the existing discoveries continues to be evaluated under various development and commercial scenarios. Discussions with the Government of Sri Lanka regarding commercial terms and gas pricing are progressing,” Cairn said.

Meanwhile, Sri Lanka has announced a second licencing round for remaining 13 blocks in Mannar and Cauvery basins and joint study programmes for deep sea block outside the bid round.

The deadline for bids closes on November 29 and Petroleum Resources Development Secretariat Chairman Saliya Wickramasuriya recently told Sri Lanka’s first-ever petroleum forum that the blocks will be awarded to selected bidders by the first quarter of next year for hydro carbon explorations.

Comments - 10

KaluSudha Thursday, 25 July 2013 07:03 AM

Negotiating what?????????????????????

7 8

Kay Parker Thursday, 25 July 2013 07:09 AM

Very nice timing to find Oil before elections

4 13

Dalu Banda Thursday, 25 July 2013 08:30 AM

Provincial Elections are in the pipeline. We will see the gas after the election.

3 17

Rara Avis Thursday, 25 July 2013 08:49 AM

Hello is it election time again ? Gas.oil finds surfaces at this time your reporter should quote who exactly reported this.

2 20

M.O.A.Careem Thursday, 25 July 2013 11:11 AM

oil, gas sometimes gold....once this over nothing....same old

0 5

sumith Thursday, 25 July 2013 01:24 PM

It is election time. UPFA finds oil and gas again. -:)

0 4

gamaeti Thursday, 25 July 2013 03:10 PM

there would be no gas after the elections.

1 3

faz Thursday, 25 July 2013 05:10 PM

sri lanka is the only country where u can fool all the people all the time. we are not wonder of asia but wondering in asia.

2 10

Sunakaya Friday, 26 July 2013 04:28 AM

What a statement sir jeee....

0 0

warra Friday, 26 July 2013 04:29 AM

gas.. must be after eating koss ate.

0 2

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